Professional Issues & Standards
Articles
Minnesota paid sick and safe leave [MNCPA]
Learn how employers can stay compliant with the new Minnesota Earned Sick and Safe Leave Act.
What’s important for business transitions in Minnesota?
Learn about key issues for owners in their succession and transition planning from the University of Minnesota Extension’s he Minnesota Business Succession and Transition Study.
Preparing for an ERC audit
It’s the season for IRS ERC exams — are you or your client prepared?
IRS announces second phase
The IRS released a new program allowing businesses that incorrectly filed for an Employee Retention Credit (ERC) refund to return 80% of the funds without interest or penalties. Learn how to help your clients navigate the process.
IRS intensifies efforts to combat ERC scams — consider getting a second opinion
The IRS is still encouraging businesses to file legitimate claims, but it is asking businesses to review their claims with a trusted tax professional who actually understands the complex ERC rules. See how getting a second opinion can help.
The dark side of artificial intelligence
While AI has revolutionized countless industries (accounting included), it’s not all sunshine and rainbows. The very attributes that make AI so helpful — its ability to learn, adapt and act independently — can also be harnessed for malicious purposes.
Safeguarding financial professionals
As October marks Cybersecurity Awareness Month, it's essential for financial professionals — especially CPAs, CFOs and financial controllers — to sharpen their defenses against cyber threats.
Renew and report by Dec. 31 [MNCPA]
Learn about important news from the Minnesota Board of Accountancy. Monthly topics include rules, CPE requirements, CPA exam information, licensing, and more.
The Employee Retention Credit: The latest scrutiny
With IRS backlog reduced, additional focus is now on supply chain qualifications, misleading ads and growing fraud risk
The case of the Crappy chappie [MNCPA]
MNCPA member Chuck Selcer shares his knowledge about ethics requirements and laws with unique humorous fictitious stories.
R&D Tax Credit — Section 174 Updates
Learn about R&D Tax Updates and how firms should move forward with their clients.
Don’t succumb to the ERC misinformation epidemic
There has been an increase in buzz around the Employee Retention Credit, including a lot of misinformation. Learn how to approach the ERC in a way that benefits your clients and ensures compliance.
CPA Evolution explained [MNCPA]
By now you’ve heard the CPA Exam will be changing — some may even say evolving. In fact, the change is called CPA Evolution. Let’s examine how the exam is changing and how to plan for the changes.
Tax issues you might have missed during year-end close [MNCPA]
The IRS officially kicked off the tax filing season Jan. 23, 2023, and issues continued to arise in the tax world. Here are some of the key issues you might have missed.
CPA exam set to change in 2024 [MNCPA]
Spread the word! For those who have already taken one or multiple parts of the exam, encourage them to complete (and pass) all four sections of the current exam to get ahead of the change.
MNCPA sets 2023 legislative agenda [MNCPA]
Federal conformity and private letter rulings are once again at the top of the list
MNCPA to explore broadening CPA licensure options [MNCPA]
The board approved an initiative to draft legislation to broaden options to CPA licensure requirements in Minnesota while maintaining rigorous testing requirements.
What’s in a name? Turns out, a lot [MNCPA]
The BOA has spelled out rules regarding how a firm can be named in Minnesota Rules 1105.6300 and 6400. We’ll break it down for you right here.
MNCPA sets 2022 legislative agenda [MNCPA]
It’s imperative issues that affect the CPA profession and those you serve continue to get attention from lawmakers.
Forgetting firm permit renewal: How bad is it? [MNCPA]
Forget the small stuff. Here’s why forgetting to renew your firm permit for 2023 is a very big deal.
AICPA issues proposed revisions to Statements on Standards for Tax Services
The AICPA has released an exposure draft of significant proposed changes to the Statements on Standards for Tax Services. The AICPA states it will consider all comments received by Dec. 31, 2022.
ASU, ASC and SAS, oh my [MNCPA]
There’s much to be understood about ongoing standards changes, including some that are already effective. Here’s a look at a handful of these A&A changes that may affect the work you do.
SQMS No. 1: First steps [MNCPA]
SQMS No. 1 deals with a firm’s responsibilities to design, implement and operate a system of quality management for its accounting and auditing practice.
What are you waiting for? Renew and report already! [MNCPA]
The the BOA encourages CPAs to renew and report as soon as possible. Doing so ensures that mistakes can be caught and fixed ahead of Dec. 31.
2022 legislative session review [MNCPA]
Find out about key issues the MNCPA is monitoring at the Capitol. Stay current on legislative news and events with stories, tips and grassroots involvement.
Automatic CPA certificate revocation is a thing of the past [MNCPA]
Legislation passed in 2022 eliminates the automatic revocations requirement after two years of not renewing and allows the lapsed certificate to show up as expired.
CPA Evolution will impact today’s interns; how can organizations prepare?
Leaders may want to engage with human resource teams to consider how CPA Evolution will impact their approach to talent acquisition moving forward.
Carrying credits back? We’ve got your back [MNCPA]
While fixing a CPE shortage isn’t the end of the world, it’s still a compliance mishap. Don’t delay; the noncompliance fees add up.
Keep the CPE flowing ahead of June 30 [MNCPA]
Stay in the know with this helpful flowchart that outlines CPE requirements and certificate renewal information.
Get to know the mission behind the Minnesota Board of Accountancy [MNCPA]
Charles Selcer, MNCPA member and the BOA’s new chair, shares the important work being done by the BOA.
The case of the double Czech [MNCPA]
MNCPA member Chuck Selcer shares his knowledge about ethics requirements and laws with unique humorous fictitious stories.
Building a tax system for all Minnesotans [MNCPA]
Minnesota Department of Revenue Commissioner Robert Doty writes about creating a tax system for all.
CPA firms: Expect the unexpected [MNCPA]
Don’t forget to incorporate the BOA rules into your succession-planning discussion. Doing so will help you to avoid complications, especially if non-CPA owners are involved.
The case of the thorn in the plan [MNCPA]
MNCPA member Chuck Selcer shares his knowledge about ethics requirements and laws with unique humorous fictitious stories.
The status of SAS 134, 135, 136 and beyond [MNCPA]
SAS 134–140 will take effect for audits of financial statements for periods ending on or after Dec. 15, 2021. Here’s what you need to know.
Firm permit renewal is a very big deal [MNCPA]
Without a permit, a firm cannot operate or advertise as a CPA firm, nor perform compilations, audits or other attest services.
Complexity and rapid rates of change — CPAs know both [MNCPA]
Who better than a CPA to serve as a subject-matter expert and influence decision-makers, while also building your sphere of influence and growing your professional network?
Don’t be scared! Renew and report before Dec. 31 [MNCPA]
Make no bones about it, Dec. 31 is your deadline for renewing and reporting to the BOA. Miss it and you’re out of compliance.
Creditworthiness verifications and PPP loans
CPA firms receiving requests from lenders for creditworthiness verifications for clients who had requested Paycheck Protection Program (PPP) loans were often unsure of how to respond.
A complex intersection of state and federal tax laws [MNCPA]
The Minnesota Department of Revenue provides and update on its implementation and process of tax law changes.
CPA status options: Can I? Should I? How do I? [MNCPA]
Whether you’re changing your CPA status from inactive to active or vice versa, the most important part is getting the answer right.
The new staff augmentation arrangements [MNCPA]
The PEEC has established a new ethics section to provide guidance on how services can be rendered and still maintain independence with regard to attest clients.
Take care of yourself, each other [MNCPA]
Get insight and news from MNCPA leadership about the organization and professional issues.
What did, didn’t happen at the Capitol [MNCPA]
Find out about key issues the MNCPA is monitoring at the Capitol. Stay current on legislative news and events with stories, tips and grassroots involvement.
Communications the key to our sustainable relationship [MNCPA]
Find out about key issues the MNCPA is monitoring at the Capitol. Stay current on legislative news and events with stories, tips and grassroots involvement.
What is ESG? [MNCPA]
One acronym has quickly risen to the top of many C-suite and board agendas in the past year: ESG, or environmental, social and governance.
Acknowledging the good in challenging times [MNCPA]
Get insight and news from MNCPA leadership about the organization and professional issues.
Revenue recognition, going concern are on the peer review radar
Two new accounting topics – one long anticipated and one a 2020 surprise – are affecting financial statements and have the potential to be missed by both companies and their auditor or financial statement preparer.
The status of SAS 136 [MNCPA]
The AICPA Auditing Standards Board delayed the effective dates of SASs No. 134–140 to provide relief to audit firms amid the challenges created by the coronavirus pandemic.
The value of neurodiversity
Neurodiversity is a term that recognizes certain individuals' brains function differently and includes people on the autism spectrum, as well as those with dyslexia or ADHD, among other conditions.
What Auditchain and DCARPE Alliance means for the future [MNCPA]
It appears the accounting, audit and financial reporting profession is due for a major long-term upgrade cycle.
The kids are alright [MNCPA]
Sixteen accounting students share their thoughts and expectations for the future of the profession and their respective careers.
A look back at the MNCPA’s MBAC22 [MNCPA]
The MNCPA’s premier event for CFOs, financial leaders, internal auditors and business advisers was back this year in a new format and new venue.
ESG: Where do I start? [MNCPA]
As stakeholder expectations around environmental, social and governance (ESG) grow and regulatory compliance pressures continue to increase, many organizations are focusing on sustainability.
Giving thanks in trying times [MNCPA]
Get insight and news from MNCPA leadership about the organization and professional issues.
Minnesota bans new employee covenants not to compete [MNCPA]
Learn about the new ban on employee covenants not to compete and the impact it will have on the employer-employee relationship.
Navigating change in our lives, profession [MNCPA]
Get insight and news from MNCPA leadership about the organization and professional issues.
Navigating the Corporate Transparency Act [MNCPA]
Many CPAs are starting to express concern as to what their responsibilities are regarding the Corporate Transparency Act (CTA). So, what is Beneficial Ownership, anyway?
Quality Management standards [MNCPA]
We’re now a year and a half closer to Dec. 15, 2025, the date by which QM implementation is required. Follow these practical steps to prepare your firm for compliance.
Join the MNCPA!
MNCPA membership grows as you do, helping you to be the best accounting professional you can be at every stage of your career.
Become an MNCPA member and:
- Pay less to attend many CPE and YPG events.
- Save up to $150 on conferences with the VIP rate.
- Access more than 20 free CPE credits annually.
Plus, new associate members receive the required ethics course for licensure free.
Apply Now Learn more
